IESW 2024: Policy and funding pathways for rapid energy storage deployment

India needs a robust policy framework to support the rapid deployment of energy storage technologies. The country has approved VGF for 4,000 MWh of energy storage projects, but must modernize its electricty grid and launch policy and funding mechanisms.

IESW 2024 deliberated on the topic, with a panel moderated by Vinayak Walimbe, VP- Emerging Technologies, Customized Energy Solutions.

Session Chair Rajesh Kumar, Chief Engineer, Energy Storage Systems, CEA, Ministry of Power, began with opening remarks. Kumar provided an overview of India's RE targets, and concluded that "we have to see technologies for which raw material is available in India, as that will keep costs low", and for standards and testing facilities available in India.

Peter Mockel, Principal Industry Specialist, IFC, spoke on the funding scenario. "The only thing that's bankable for us now are Tier 1 vendors, both at integrator and cell level," he told the audience, concluding that "On the technology side, making LDES bankable is the main thrust area now."

Kunal Saxena, Head-Strategic Investment, Ampin Energy, took the audience through financing and funding challenges faced by manufacturers, and the need for incentives to allow grid upgradation.

Professor Scott Hamilton, Senior Advisor, Smart Energy Council (an independent body for the Australian smart energy industry) presented Australia as a case study for energy transition, with a powerpoint that showcased the continent's transition and the technological progress made so far by its companies.

Wilhelm Von Butselaar, VP-APAC Growth, Fluence, pointed out that the software and the systems are usually underestimated, and took the audience through Fluence's pre-configured storage products, which the company delivers as 'core only' or on 'full turnkey' basis.

Rapid deployment of capacity will also require resolution to issues of labor, delivery and contracting, he pointed out, saying doing this was the equivalent of "organizing a rock concert every day for two years".
Artur Zawadski, CEO, Sunrise CSP, pointed out that 49 percent of human energy consumption is in the form of heat. That covers everything from space heating, dyeing textiles to steelmaking. Of this 49 percent, 90 percent comes from unsustainable energy sources (three-fourths comes from burning fossil fuels) and only about 10 percent comes from green energy sources.

"We have to ensure we have right policies and mechanisms in place to encourage the forms of storage that are predominantly used," he said, concluding that the big dilemmas were how to deliver "green heat and green steam" for human and industrial consumption.

For mode details of the IESW 2024, visit indiaesa.info